Unwins puts up For Sale sign

THE family-owned Unwins off-licence chain has put itself up for sale after more than 50 potential bid approaches.

Rivals Threshers, Victoria Wine, Wine Rack and Oddbins are likely suitors. Unwins has been losing money but its 400-store portfolio will interest supermarkets and venture capitalists.

The Unwins High Street based property portfolio, mainly in southern England, may be of interest to the major supermarket chains which are looking to expand their operations into convenience store locations.

'The board will consider the most appropriate potential acquirers who will progress to the next stage of the process,' said chairman Michael Lunn.

'As the largest, family-owned, independently branded wine merchant in the South East of England, it is the board's intention that any potential sale should provide Unwins' shareholders with a suitable return and provide the group and its employees with a secure future,' he added.

The group recently announced it had returned to profitability at the trading level.